[Market Focus] AJU IB Investment Soars 30% on Hopes for Investment Returns
The stock price of AJU IB Investment, a venture capital (VC) firm, surged on heightened expectations for global bio investment returns.
As of 10:03 a.m. on February 27, AJU IB Investment was trading at 5,810 won, up 1,340 won (29.98%) from the previous day.
According to foreign media reports the previous day, global pharmaceutical company Gilead has agreed to acquire Axcella Therapeutics, a bio company invested in by Solasta Ventures, for 7.8 billion dollars (about 10 trillion won). Axcella Therapeutics is a company invested in by Solasta Ventures, the U.S. subsidiary of AJU IB Investment.
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AJU IB Investment has been divesting from Axcella Therapeutics since its listing on the NASDAQ in 2023 and into last year. It is known that the company still holds a significant portion of shares. AJU IB Investment expects an investment multiple of up to 9 times its original principal.
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